BankersLab Blog

PortfolioQuest Announces Successful Funding Round and Appointment of Advisors

SINGAPORE (November 9, 2016) – PortfolioQuest, an innovator in financial sector talent management and certification, today announced that it has raised USD $750,000 in Pre-Seed funding, led by Nels Friets and Venkatesh Sethuraman, joined by its first institutional investor Wavemaker Partners, and a group of individual investors from the financial sector.

This investment round will fuel the global roll-out of a paid beta version of PortfolioQuest. This simulation training tool is designed to hone, measure and benchmark technical skill in managing consumer lending portfolios. On-demand, players are able to practice their consumer lending skills in a dynamic environment with unlimited possible outcomes. The player data provides bank management with actionable insights about the landscape of employee skills and future training requirements.

“In a “post-bot” world of robo-tools, the strategic and forecasting job functions take on crucial importance. These skills require more powerful training tools than static e-learning in order to safely achieve positive financial outcomes.” said Michelle Katics, CEO of PortfolioQuest. “Our vision is to lead a data-driven era of risk culture, conduct compliance, and workforce transformation.”

The company also announced the appointment of Nels Friets (Vice-chairman and co-founder of tryb, a company that invests in technology companies transforming financial services in Asia) as Director and Advisor.

“The old adage – if you can’t measure it, you can’t manage it, still holds true. PortfolioQuest shines a light on rising stars and skill gaps at the same time”, said Mr Friets. “It aims to bring simulation tools to the financial industry that are prevalent in other high stakes industries, such as aviation, military and medicine,” he added.

Venkatesh Sethuraman and Sanjiv Misra also joined as company Advisors, bringing financial sector C-Suite experience to the team.

Commenting on behalf of Wavemaker Partners, B Paul Santos, Managing Partner said, “Wavemaker is pleased to be part of PortfolioQuest’s journey. It takes a team of industry experts to spot this global opportunity and build the necessary IP to attract top-tier clients across 4 continents.”

About PortfolioQuest
Founded in 2015, PortfolioQuest is a ‘virtual world’ training simulation platform configurable for every level across all functional areas of consumer, retail and P2P lending. Leader boards, competitions and progress metrics feedback players’ financial success and drive learning engagement. In addition to being a training tool, it is a powerful benchmarking tool, providing early detection and troubleshooting of employees’ forecasting, decision-making and portfolio management skills. This benchmarking dashboard provides human capital forensics to the industry. PortfolioQuest has offices in Singapore and San Francisco. PortfolioQuest was incubated by BankersLab® a leader in learning innovation, building “flight simulators” for FinTech and bankers. Their products boast a global B2B client base of banks, credit unions, credit bureaus, training institutes and financial sector vendors. To learn more visit: www.bankerslab.com

About Wavemaker Partners
Wavemaker Partners is an early-stage venture capital firm founded in 2003 with offices in Los Angeles and Singapore with over $100M in assets under management, while consistently delivering top quartile returns. Wavemaker is one of the most active investors in Southeast Asia with more than 50 portfolio companies including successes like Luxola (acquired by LVMH), Gushcloud (acquired by YelloMobile), Pie (acquired by Google) and ArtOfClick (acquired by Xurpas). The firm invests primarily in pre-Series A rounds of technology startups in the B2B space (large enterprise, SME, B2B2C). The Wavemaker team is led by entrepreneurs who’ve built and exited companies themselves. Wavemaker is also the Southern California and Southeast Asia representative of the Draper Venture Network (DVN), the world’s premier global venture collective with 9 member firms across 4 continents.

BankersLab AdminPortfolioQuest Announces Successful Funding Round and Appointment of Advisors

Related Posts

Take a look at these posts